Anthony Tan

What if… instead of having to make sacrifices to your daily schedule and lifestyle, you get a fairy godmother that takes care of all the hassles of keeping your vehicle juiced, cleaned, maintained etc., and all you need to do is think of where you want to drive it to? That sounds better than owning a petrol or diesel vehicle!   Well, the Singapore government has been one of the first in the world to recognize this new type of EV charging service – a charger that goes wherever you are. In fact, it’s an entire fuel station at the palm of your hands, anytime, anywhere.   Instead of being prescribed charging solutions that leave much to be desired, we can finally have a palatable choice that allows us to enjoy a wonderful product that drives great; that is good for Mother Earth, and at the same time, ELEVATE our lives.   Would this be the additional choice that consumers need to make the switch  to EVs? At the very least, it will remove all the worries... https://rb.gy/y7v10z

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Recently, my fellow MMU friends and I had an enlightening discussion YB Chean Chung Lee . We realized that while we all started in the engineering faculty, we have ventured into different industries and found success in our unique ways. We were celebrating our friend Chuan Zhen Ko, who has just closed a major deal with BM Greentech, valuing his company Plus Xnergy at over RM100 million. His company, which is just over 10 years old, is a testament to the incredible potential of engineering graduates. However, during our conversation, we noted a concerning trend: fewer students are choosing to pursue engineering courses today. In our time, our university had an annual intake of over 300 engineering students, but now the numbers have significantly dropped. Our country is moving rapidly towards advancements in AI, semiconductors, EV, and RE as part of the National Energy Transition Roadmap (NETR) and NIMP. Yet, there's a noticeable lack of talent in these crucial areas. This talent gap poses a significant risk to our ability to innovate and lead in these high-tech industries. Engineers: The "Late Game Heroes" For those familiar with the game Dota and Dota 2, I often say that engineers are like "late game heroes." Early in their careers, engineers might need to grind and farm to gain experience and build their skills. The journey can be challenging, and the rewards might not come immediately. However, during the mid-game and end-game stages of their careers, engineers truly shine and make substantial contributions. If I had the chance to choose again, I would still pick an engineering course. The education I received strengthened my fundamentals and taught me adaptability, which is critical in today's fast-changing world. Why You Should Consider Engineering? Strong Foundation and Versatility: Engineering education provides a robust foundation in problem-solving and critical thinking. These skills are highly adaptable and valuable in any industry. Rewarding and Fulfilling Careers: An engineering degree opens doors to numerous career paths. Whether it's AI, renewable energy, or semiconductors, the possibilities are vast and rewarding. High Demand for Engineers: As the supply of engineers decreases, the demand for skilled engineers will only grow. This ensures job security and opportunities for career advancement To those still considering their direction, please keep engineering as an option. Life as an engineering graduate is not only rewarding but also fulfilling. Your skills will be in high demand, and you can make significant contributions to society. Reflecting on my journey and seeing the success of friends reaffirms my belief in the value of an engineering education. It’s a field that promises a fulfilling career and plays a crucial role in shaping the future of technology and innovation. If you want to be part of building a better future for the country, consider becoming an engineer. Malaysia needs more "late game heroes."

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How would you grade Nissan CEO Makoto Uchida on his performance with his just-completed midterm business plan? Here's our report card. TOKYO — Nissan Motor Co. CEO Makoto Uchida gave himself a B grade for shepherding Nissan through his first midterm business plan. That four-year revival roadmap, Nissan Next, wrapped up March 31. Nissan reported results for the final fiscal year of Nissan Next on May 8. With the final figures now in, it's worth looking back to consider what grade he truly deserves. Is Nissan better off that it was four years ago when Uchida launched Nissan Next? By most measures, most definitely. Is Nissan where it wanted to be by now? You be the judge. Here is a report card of how Uchida fared with Nissan Next's goals: Product portfolio Nissan Next goals: Reduce the number of global nameplates by 20 percent to around 55, down from 69; shorten product life cycle to an average of under four years. Grade: Passed. Nissan killed its emerging market entry-level brand Datsun, and Nissan quit the South Korean market, among other actions. Nissan said it cut the nameplates to the desired level, and the average product age is now under four years in "four key markets." Factory capacity Nissan Next goals: Cut global capacity more than 20 percent to 5.4 million vehicles, down from 7.2 million; raise production utilization rate to above 80 percent from 70 percent at the time; close plants in Indonesia and Barcelona, Spain; optimize North American plants. Grade: Incomplete. Nissan shuttered plants and closed lines. But Uchida said Nissan's global capacity utilization rate still wallowed around 68 percent in the last fiscal year. Nissan wants to achieve capacity utilization of at least 90 percent under Uchida's new business plan, called The Arc. Sales Nissan Next goal: Executives anticipated a 9.1 percent annual global sales increase that would have equated to around 5.4 million vehicles by the plan's conclusion. That would have been an increase from 4.9 million in the fiscal year ended March 31, 2020. Grade: Failed. Nissan's annual sales actually shrank to 3.4 million vehicles at the end of the plan. Under The Arc, Uchida wants to add 1 million more vehicles by the fiscal year ending March 31, 2027. That implies a volume target of at least 4.4 million in the next three years, still lower than Nissan Next's original goal.

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Car dealers have been selling fewer cars in Singapore since 2017. This impacts revenue and profitability. One (reasonable) way to improve the top line would be to develop a stronger aftersales business. In recent years, motor traders have been beefing up their workshop operations, including branching out to repair and maintain other car brands that they do not represent, as well as catering to parallel imported cars (something they have avoided for fear of encouraging the gray imports gaining legitimacy). ...All while trying their best to keep their customers within their service network - whether by excellent service (good) or warranty restrictions (so owners can't take their cars outside without voiding warranty coverage). Check out this report published on The Straits Times on Sunday, Sept 22. (https://lnkd.in/gKWh-xmd) 2020, 2021 were bad years for car dealerships, with significantly fewer cars sold than before. These cars would be out of warranty by now. 2022 and 2023 that followed were even worse. Coupled with rising popularity of electric vehicles (EVs), which is a huge threat to workshop operations because they do not need anything like the amount of maintenance as the conventional internal combustion engine cars, motor traders are in trouble. I think it is the workshops themselves that need an overhaul... fast.

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In Thailand, travel to work expense is accounted for 20% of the income. With a minimum wage of 350-400 THB per day, office workers spend around 70-100 THB daily on BTS and other travel costs. For a salary of 20,000 THB, that's 3,000 THB gone. For riders, a 110cc motorcycle consumes about 100 THB of fuel daily, making around 1,000 THB per day. For 150-160cc models, fuel costs can rise to 200 THB per day. SLEEK EV’s next plan is to cut daily fuel costs from 100 THB a day to just 499 THB per month. This move will reinforce that choosing clean energy genuinely improves users' quality of life and disrupts travel costs to create a more equitable world. Learn more: https://lnkd.in/gSqYjnzJ

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KEY TAKEAWAY: Grab Holdings of Singapore has built a $14 billion business with a strong competitive moat and high upside by focusing specifically on southeast Asian customers who operate across the region. ---------------------------------------------- Grab has entered the lucrative and vexing digital banking industry via a mobility focused app. Grab has built a network of drivers, passengers, merchants and shoppers across the largest southeast Asia economies - Malaysia, Singapore, Vietnam, Thailand and the Philippines. Its 35 million monthly app users can avoid currency exchange fees via Grab's digital wallet. Grab is leveraging increased economic integration within southeast Asia to carve out a niche versus local competitors and outside players. Intra-ASEAN tourist arrivals had doubled in the ten years prior to 2019, before being crushed by the COVID pandemic. Air Asia has grown its revenues 8%-9% annually as a primarily regional carrier. Grab's competitive moat gains strength as its app users, drivers and merchants all benefit from the network's growth. An aspiring market entrant would have difficulty replicating it with Grab already established. Grab not only appeals to customers who operate internationally, it can offer ambitious prospective employees international experience. This enables it to better compete with world class firms for talent. By focusing on southeast Asia, Grab has become more efficient and entrenched than global players like Uber, whose Singapore operations Grab acquired, and Alipay, which now partners with Grab in serving Chinese tourists to southeast Asia. Tencent backed Sea Limited which entered the market via gaming and e-commerce. This strategy worked wonderfully well for Tencent in the gigantic single-country market of China, but it does not shield Sea subsidiaries Garena (gaming) and Shopee (e-commerce) from local and global competition in southeast Asia. While a regional presence in mobility and currency exchange free in-person shopping clearly benefits regional travelers, this cross border presence does not particularly benefit gamers nor online shoppers. Grab has started to offer digital banking services, including loans, to its app users via partnership with local banks. It does not compete head to head with local fintechs which offer critical services to the unbanked, such as GoPay (Indonesia), MoMo (Vietnam), TrueMoney (Thailand) and GCash (Philippines). Whereas we noted that Revolut's competitive moat against banking competition was unclear, Grab is the easy digital banking option for its app users. Grab identified a trend that only someone with a regional mindset is likely to recognize, i.e. southeast Asia integration, and then catering specifically to those actively participating in that trend. Grab revenues have grown 50%-60% per annum in recent years and it has recently broken even in terms of net income. Grab Ranjan Sharma, CFA Peter Milliken Next time we look at Texas health care.

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With Singapore’s ambitious goal to increase manufacturing value-add over the next decade by 50%, manufacturers need to get better at leveraging innovation to drive sustainable growth in the industry. I enjoyed sharing with Frontier Enterprise how I see manufacturers reaping the benefits of combining AI and automation to enhance productivity and foster further innovation to actualise the government’s “Manufacturing 2030” plan. Check it out here: https://lnkd.in/g5sUuVPD

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Justifying for a lost cause? Our Transport Minister has weighed in and IMHO, just made himself look silly. 1. Choice of components can mitigate for "extreme" temperature. We have commercial in-car cameras exposed to full onslaught of the sun, yet we don't see them failing left, right & centre. 2. If you can't design something to remove heat generated from the OBU = your OBU needs a redesign. or maybe, OBU draws so much power that it is generating excessive heat. 3. Usage based charging can be account-based, lah. No need to be hog-tied to an OBU. So long there is someone with a valid account paying = it's all good, right? Anyway, LTA very smart one....if u don't pay, they can trace to the car owner. ;) 4. You mean that our smartphones are NOT secure or safe enough for ERP? Er...isn't SingPass on smartphones? Health Hub? ICA? ...wait, wait...or you mean that the OBU is so super secure that it is a Fort Knox? All this for a ERP so that u can collect $? My grandma used to say "“跳进黄河也洗不清” https://lnkd.in/gQpP9hWK

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"Don’t be reactive." These wise words from Tanwa Arpornthip still resonate with me. I had the opportunity to attend the ASEAN GENAI Road Show Report by GenAI Fund at the AWS office in Bangkok this Wednesday. After navigating two security checkpoints, just like an airport, I found myself in a room filled with energy and enthusiasm that reminded me of the Bay Area. Tanwa's advice, "Don't be reactive," is relevant not only in business but in many aspects of life. Here’s how this principle applies: 1️⃣ Startups: Securing your first investment is exciting, but alignment between founders and investors on vision and operational methods is crucial. Reacting solely to the influx of funds can harm the startup’s culture and lead to conflicts. 2️⃣ Conflict Resolution: In moments of tension, it’s important to avoid knee-jerk reactions. Taking a step back to consider various perspectives helps in navigating conflicts more effectively. 3️⃣ Problem Solving: There’s rarely a one-size-fits-all solution. By not reacting impulsively, we can explore multiple options and choose the most effective solution. (Though it’s worth noting, sometimes the best solution is the one implemented swiftly.) Thank you, Laura Nguyen and Denning Tan from GenAI Fund, for organizing such an inspiring event. For AI startups with a Thai national as the majority shareholder, there’s an opportunity to receive funding from the Innovation ONE Fund in Thailand. Take advantage of it!

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“I don’t know everything.” — this is the mindset that Zachary Wang, Co-founder & CEO of 500-backed Neuron Mobility, believes is the foundation of their success. He was named EY’s 23rd Entrepreneur Of The Year 2024 Singapore, beating 3 other contenders shortlisted from a pool of more than 80 nominations. He will go on to compete with winners from other countries at the EY World Entrepreneur Of The Year award in June 2025. Today, the team is a leading e-scooter operator in Australia and New Zealand, and they are also present in Canada and the UK. Known for their proprietary e-scooters designed for urban environments, they introduced pioneering innovations such as battery swapping, geofencing control, and integrated helmets. “There was a gap in the intra-urban mobility space because cars were not designed for that use,” he explained. “Cars are great until they’re not. They cause pollution and jams. You would often have to walk a distance from where you have parked to your intended destination.” Zachary revealed that the team will continue expanding within their existing markets and explore further opportunities in European and North American cities. He also added that product expansion is underway, with the team planning to roll out newer generations of scooters and introduce e-bikes to their fleet. Read the full story on The Edge: https://bit.ly/4eRY5ad #500Global #500SoutheastAsia #500Strong #startups #technology #innovation #venturecapital #asia #southeastasia #singapore #micromobility #urbanmobility #escooter #sustainability Photo credit: EY

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There are only two mistakes one can make along the road to success…not going all the way, and not starting. Everybody has their own opinions, and doubts may arise even with good intentions. Yet, every challenge is an opportunity to grow and, most importantly, never give up. In recent news, Grab's acquisition of taxi operator Trans-cab has been halted as Singapore's Competition and Consumer Commission has blocked the move. The concern revolves around competition in the ride-hail platform services market. This decision aligns with Singapore's competition laws, which aim to prevent anti-competitive mergers. Every obstacle presents a chance for growth. Keep pushing forward and stay resilient. Learn more: [Link to the article] #CompetitionLaw #Grab #Transcab #SingaporeEconomy

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A timely reminder when we get frustrated at the problems we face at work. Be kinder and gentler to those who made a mistake. We all need a break sometimes. I am in fund management because in this industry, the mistakes that we may make, hardly anyone died from them. Specifically I chose to be in PE, where there are no daily marked to market volatility and typically no leverage to trigger forced selling at the absolute worst time to sell. Having help manage a PE portfolio diversified over vintage years, geography, industry, sub-asset classes over the last 20 years, I know that as long as we persevere, we can always recover from our occassional losses, and still outperform public markets in the long run. It is stressful at times, but done correctly, no one gets hurt, and everyone can retire well. Here's my heartfelt salute to all those who really deal with life and death issues in their daily work. The closest I do that is related to life and death issue is to invest in life settlement funds. #PE

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[Oversubscribed -> added 30 offline seats only] I realised the event got many eyeballs and the offline tickets immediately became oversubscribed. My hope is to share this opportunity to those who will truly benefit, so we decided to add a bit more seats. >>>Those who signed up DO ATTEND the event! It's such a unique and priviliged chance for you and we don't want to waste all stakeholders efforts, including your click! >>>Those who are interested but haven't signed up RSVP NOW, that's all I can say😅 https://lnkd.in/g6cbqiaF >>>Those who got last minute conflicts STREAM ONLINE for the sessions you can watch, and make use of the networking function EventHub has developed. You can easily access to 100+ VCs, Enterprises, Ecosystem Builders and Founders!

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60,000 recharging points by 2030 has no meaning to a typical Singaporean family that lives within HDB apartment with multi-storey car parks. Anyone will want to know how many EV registered to season parking at this car park, where usually at least 3 recharging points are available. If the ratio is 1:10, then that particular multi-storey car park cannot have more than 30 EV registered for Season Parking. At this moment, no transparency or system, this will result to Singaporean neither go EV or Hybrid, as Hybrids are more expensive than ICE for convenience.

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A much-respected colleague of mine likened car dealers to fruit flies earlier this week, which I found very amusing. Now, I'm likening private hire cars (PHCs) to butterflies - specifically gynandromorph butterflies. They're butterflies that are literally, half-and-half. No this is not woke, sit down. But instead of a physical half-and-half, it's time-based - when there's a fare, a PHC is a taxi, when used for personal reasons, it's a car. PHCs are the same. Sometimes they're like taxis, and sometimes they're like passenger cars. As it turns out, the very things that give PHCs their edge over taxis also make them very hard to pin down, by the government's own admission, and that makes the idea of creating a separate COE category for them a particularly tricksy thing. You can read what Transport Minister Hong Tat Chee has to say about that in my story. At this moment, my brain is too dead to turn this subject over in truly meaningful detail, but even a cursory think-through leads to lots of complexity. PHCs should be treated differently from passenger cars, but this does not necessarily have to come in the form of a COE category. In fact, I think it shows that the COE category system (for cars, anyway) is too pigeonholey - for example, power limits, - and that it requires much more nuance. Fruit, butter or pigeons aside, let that idea take flight.

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I resonate with B. Paul Santos' insightful commentary on Singapore's position in the equity markets. He speaks with the authority and understanding necessary to align the SGX with the aspirations of the startup and VC ecosystem in Southeast Asia. TL;DR: Success begins with a shift in mindset before taking action. But here’s the next challenge: Who will step up to lead this mindset shift and commit to transforming IPO opportunities for startups, even if it means risking their career? Over the past 16 years, I’ve witnessed a few courageous individuals in Singapore drive change in the startup landscape. From pioneering the iconic Block 71 and the launch of JFDI, Singapore’s first accelerator, to initiatives like IPPL-led accelerators and government-backed programs like iJAM.Reload, TiS, and SGTech commercialization grants. Change was made by bold initiatives and courage of men who stepped in to transform the startup ecosystem to what it is today. The question now is who are the next people who will see through the new change. Whether we’ll see a new wave of innovation that propels Singapore into another golden era for startups—or risk being overtaken by a rising Bursa Malaysia as the preferred destination for IPOs. https://lnkd.in/erAiiWv2

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Thank You, Prime Minister Lee Hsien Loong During his tenure as Prime Minister and Finance Minister from 2001 to 2007, Mr Lee Hsien Loong steered Singapore's economy to new heights, cementing the city-state's status as a thriving global hub of innovation and commerce. Under his astute leadership, Singapore navigated multiple economic crises, including the Global Financial Crisis of 2008-2009 and the COVID-19 pandemic, emerging stronger each time. PM Lee's strategic economic policies and foresight have been instrumental in driving Singapore's remarkable growth and development. Singapore's GDP more than doubled to over $673.3 billion by 2023, compared with $194.4 billion in 2004. The GDP per capita surged to around $113,779, compared with $46,664 in 2004. Based on studies done by the International Monetary Fund, Singapore is among the top 10 worldwide in terms of living standards. This stellar economic performance was underpinned by PM Lee's focus on transforming Singapore into a global financial hub and stimulating innovations that have kept the economy globally competitive. When the Global Financial Crisis struck in 2008, PM Lee's prudent stewardship guided Singapore to a swift V-shaped recovery, with GDP expanding by an impressive 14.5% in 2010. Similarly, despite the significant challenges posed by the COVID-19 pandemic, Singapore's healthcare system demonstrated remarkable resilience and preparedness. Singapore generally avoided the overwhelming strain experienced in many other countries. Furthermore, Singapore's robust financial reserves, accumulated under PM Lee's tenure. It enabled the government to implement substantive support measures that helped the economy weather the pandemic's economic impacts and mitigated the severity of the downturn. PM Lee's visionary launch of the Smart Nation initiative in 2014 set Singapore on a strategic course towards comprehensive digital transformation. This initiative has positioned the country at the forefront of leveraging technology and data to enhance living standards, create greater economic opportunities, and strengthen social cohesion within communities. The foresight proved invaluable during the COVID-19 recession, as strategic investments in higher value-added sectors helped power the recovery. In addition to driving economic progress, PM Lee has also made significant strides in improving social welfare. The median income for full-time employees nearly doubled under his tenure, with lower-income Singaporeans benefiting even more, as their wages more than doubled. Social spending tripled to $53 billion by 2023, expanding healthcare for an aging population and addressing inequality through government interventions and transfers. Under PM Lee's leadership, educational pathways have been expanded, with increased emphasis and investment in Institutes of Technical Education (ITEs) and… https://lnkd.in/darjZvcr

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Rethinking the Impact of Foreign-Owned Firms on Singapore's Labour Landscape Recent data from the Ministry of Manpower (MOM) reveals that while only about 20% of firms in Singapore are foreign-owned, these companies employ a staggering 60% of Singapore residents in high-earning jobs (those earning above $12,500 monthly). On the surface, this underscores the importance of attracting foreign investments and global talent to create good jobs for Singaporeans, and highlights the great work done by EDB and other agencies to attract foreign investment. However, taking a cue from Adam Grant's advice in his book "Think Again," it's crucial to question our assumptions and re-evaluate the broader implications. As he says "The purpose of learning isn't to affirm our beliefs; it's to evolve our beliefs." The key issue that comes to mind is the risk of job losses due to global layoffs in multinational companies. While multinational corporations (MNCs) offer attractive opportunities, they are also subject to global economic shifts and corporate decisions made far from our shores. This also creates a risk of vulnerability to external decisions: Local employees may find themselves affected by global restructuring or layoffs that have little to do with the performance of the Singapore branch. If the global trend of MNC layoffs continue, it might be challenging to absorb these highly-paid workers in other parts of the economy.

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